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CNBC
Nov 5, 2012 4:00am EST
here. the u.s. allegatielections and redskins lost. >> we will mention the redskins indicator, but it's true whether the u.s., china, greece, eurozone itself would make for a big week, but combine them all together, in fact it's no wonder that markets are a little unnerved. >> coming up today, plenty to get through. we're at singapore where hundyui shares are down. >> and here in london, uk pmi data will be out. the question whether it will follow an upward trend. >> and china preparing for the once in a decade political handover. we'll take a lower look at the new leadership. >> when the redskins win or lose, it has predicted the top winner since 1980. there has been a notable expossession of 1984. >> although gore did win the popular vote but not the electoral college. >> in 2000. >> that's right. >> the all-important football -- i should say american football indicator here. it points towards a romney victory. >> besides all that, plenty corporate news. hsbcs has set aside an additional $800 million in the third quarter to deal with the u.s. anti-money laundering probe. that brings
CNBC
Nov 22, 2012 2:00pm EST
i'm steve kroft. thanks for joining us. [ticking] [ticking] >> in a nondescript t-shirt at a nondescript desk, mark zuckerberg runs a vast global empire, leading the whole internet in his direction. is the goal for you to conquer the whole internet? to own the internet? >> well, think about it like this. people--if they can use a product of any category--photos, music, tv, anything--either by themselves or with their friends... >> mm-hmm. >> i think most of the time, people want to do those things with their friends, so-- >> so is the answer "yes"? [ticking] you describe bill gates in very harsh terms. um, you've described him as being quite abusive. i mean, it's not a pretty picture. >> and i felt like when i wrote it, i should just tell it like it happened, in an unvarnished way, warts and all. >> you'll hear how the two high school buddies who started microsoft and a computer revolution had some pretty trying times along the way. do you think he came to think that you weren't working as hard as he was and it became a source of resentment with him? >> well, i thi
CNBC
Nov 20, 2012 12:00pm EST
by the charges of the u.s. attorney. we will take you there live as well. but first, we meet the traders for the hour. steven weiss, joe and john naje najerayan, so a lot of digest. steve, you have this market rally, trying to go for a third straight day. going to be listening closely to the fed chairman in new york. >> i don't think bernanke is going to affect the rally one way or the other. what's driving the market is optimism over avoiding fiscal cliff and a deal, so the caution i would offer is that negotiations are going to make their way to the headlines and just be prepared for volatility. i think now, this allows us to move higher because the big decline we have, but at some point, you've got the say okay, we're going to get some big sells in front of the new tax laws. we've seen big dividend payments. you also have to watch dividend stocks, but it's not going to be smooth sailing going forward. >> joe, you can get some clues today on future stimulus. by the fed when he spoke speaks in manhattan. also likely get questions about the fiscal cliff. >> absolutely and i think there i
CNBC
Nov 22, 2012 4:00am EST
, decline in manufacturing eased a little bit more than expected in november. joining us, chief european economist. ricar ricardo, thanks for joining us. so still a negative territory. what does this point to in terms of the economic decline for the fourth quarter? >> i think it's in line with the idea that real sgchlt dp will decline by at least 0.2%, possibly 0.3%. it will give us a negative entry point in 2013 when i expect an average growth of minus 0.2%. so still moderately recession territory. >> the german flash composite pmi 47.9, services 48, manufacturing 46.8, is germany -- we just saw the 0.2% print. is girl aermany going to have a negative contract? >> i'm looking for a contraction of minus 0.2. so only aed modest one. i expect activity will stabilize in q1 of next year, but obviously that requires a favorable external environment, meaning u.s. not going into this deep due to the fiscal cliff. and also signs of improvement in asia. >> meanwhile the french pmi says the survey there suggests a 0.7% gdp drop in quarter 4 for france. >> that seems quite large. we've seen in rece
CNBC
Nov 23, 2012 6:00am EST
us a lot about the state of the consumer and the u.s. economy today. so we're turning to one of the most seasoned and respected voices on wall street for help. we have dana telsey. she is our guest host for the next three hours. andrew, i'll send it over to you. >> we begin with a visit to toyland and here is toys r us. it opened its doors at 8:00 last night. and we have toys r us ceo joining us right now from the company's flagship store in times square. good morning. >> good morning. >> so i read a report you you had a big line. what's it been like all evening? >> it's been great. we did have a big line. we're at 44th and broadway.line went all the the way to 45th street and then down 45th all the way to 6th avenue. it was huge. people came in in a real celebratory mood. people ate ice cream, relaxed with their kids. i've never seen a black friday like this before, but 8:00 hour worked really well for families. >> let's talk about sales. how did it go overnight? >> we're just starting. this is 5:00 a.m. on black friday morning. we're really just starting. we have about a b.
CNBC
Nov 23, 2012 9:00am EST
to point that out. >> we'll consider him the leading edge. >> thank you for joining us. thank you. everybody else, enjoy the rest of your weekend. we'll see you back here on monday. "squawk on the street" begins right now. ♪ have a holly jolly christmas it's the best time of the year ♪ ♪ i don't know if there will be snow but have a cup of cheer ♪ ♪ have a holly jolly christmas ♪ and when you walk down the street ♪ >> bargain hunters starting to hit the malls across the country rushing to get in and get a jump on the holiday shopping season. will it be the strong start retailers are counting on? welcome to "squawk on the street" this day after thanksgiving. hope you had a great holiday. i'm melissa lee along with brian sullivan a sulliv sullivan. let's look at how we're up for this abbreviated session. this is historical tendency in terms of the period between thanksgiving and december 3rd. most of the time we are higher in the markets and we're seeing that play out so far in future. look at the picture in europe. a surprise increase in german business confidence the
CNBC
Nov 18, 2012 7:30pm EST
steve jobs. you're probably already using something this quiet genius already invented. "the wall street journal report" begins right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's a look what's making news as we head into a new week on wall street. corporate america had a strong message for president obama this week. ceos from more than a dozen of america's largest companies met with the president and warned that washington must reach a deal to avoid the fiscal cliff. the president also sat down with congressional leaders and officially began negotiations. if congress doesn't act, taxes on income, capital gains, dividends and estates will all go up. and automatic spending cuts will kick in, beginning on january 1st. this week, i spoke with alan simpson and erskine bowles, authors of a deficit reduction plan about what needs to be done. >> you can't tax your way out of this. you can't cut spending your way out of this. you can't grow your way out of this. so grab hold, it's going to be a rocky, rocky road. >>
CNBC
Nov 8, 2012 6:00am EST
. u.s. equity futures should be interesting to look at temperature basically on hold. not sure what to do after yesterday. we'll talk more about the economy in a minute with david rosenburg. it was pretty clear yesterday that depending on how you wanted to spin it, could you say how do you do for another four years. i don't remember any euro news in the last six months no matter how bad it was, we didn't get it free handle. so there's more to it than just europe. >> it was the fiscal cliff, but also the financials got hit so hard. if it had been romney, the cliff would be less of a deal because they would stepped all of them. so now we know and we lettered it first hand yesterday. boehner said we're open to tax increase, but part of a bigger plan that involves spending cuts. dove did a bungee -- >> worst thing i ever did. >> but it goes down and then right back up. >> the worst part is you feel like you're connected on something, but don't. it's a free fall until the very he said and then he start to feel like i'm connected to something and it throws being back into the air. >> my q
CNBC
Nov 1, 2012 4:00am EDT
. >>> welcome back. and a special welcome to viewers in the u.s. joining us this morning. let's take a look at the market open. we had the u.s. returning to business after the two day close after sandy, but the reaction was fairly muted. european investors as they watch the action on on wall street, but also this occurred on average volumes taking place on wall street. let's take a look at some of the appetite. a wish washy open. this is the start of a brand new trading month. and if you look over the course of the last five months, it's been a fairly decent performance for european markets. up almost 13% despite all the macroeconomic headwinds that we face. let's show you what's happening on on the open. lots happening in the oil and gas sector. we had numbers also out from the resources sector. but the overall tone in oil and gas is negative. there is some gray on the charts to report. retail autos tracking higher, household goods. and lloyds here in the uk has been reporting, as well. and there's been a very strong response to its numbers popping up more than 5% on the open
CNBC
Nov 1, 2012 6:00am EDT
adp employment report. mark zandi will deliver the report to us first on cnbc. let's get over to andrew with more of today's top stories. >> joe, i think actually we're going to go and talk to mary thompson. as new jersey begins to recover, gas lines are growing. mary thompson is on the new jersey turnpike this morning. mary, good to see you. but there's been a lot of lines and a lot of people talking about this. >> reporter: yeah, very frustrating situation. take a look behind me, you can see the line at the vince lombardi station. and what you can't see is that it stretches down just about a half a mile to the entrance to this rest stop. our cameraman waited in line to get gasoline, he said it took him about 25 minutes. and brian sullivan drove past it yesterday and said the line was at least 200 cars deep. similar scenes like there are being played out all over new jersey as well as long island. residents driving across state lines to find gas, others expressing increasing frustration with the situation. >> impossible. can't get it. and we have no lights on, so i have to ge
CNBC
Nov 26, 2012 6:00am EST
year. courtney reagan's been tracking the numbers and she will join us with the details. also veteran retail analyst dana telsey will join us with her take. and coming up at 6:40, com score gives us a forecast for cyber monday sales. we of course continue to watch the fiscal cliff count down. lawmakers have been trying to convince the naub they are willing to compromise. they return to capitol hill today. >> everything should be on the table. >> bring entitlement reform into the conversation. >> a group of corporate executives are calling on congress to rise above partisan politics to try to find some sort of a solution. we have a lot to talk about with gleg brown and we'll start that in just a moment, but first over to andrew. >>> finance ministers are trying to unfreeze the second bailout package for greece, but first they must agree on how to cut massive debt to a more sustainable level. we'll head to london for details on that. and playing down a deal talk, tom joyce saying his country's currently if talks with at least two firms on a possible sale of its largest business unit. bu
CNBC
Nov 5, 2012 12:00pm EST
thanks for that. >> thank you very much. >> that does it for us. let's get back to headquarters. michelle and the "fast money" halftime. >> thank you, carlito. welcome to the halftime report. i'm michelle caruso-cabrera. 13,079 on the dow. the s&p a decline of a point and the nasdaq composite in positive territory by six points just below 3,000, apple helping out there. on halftime, the election, of course. what an obama or romney victory means for the market and your investments. sandy's aftermath. we continue to track the latest kwomts as the east coast tries to pick up the pieces after the superstorm. we are trading the big movers with stephanie link, joe teranova and downtown josh brown. let's get to the election. the two candidates are entering the home stretch. john harwood has the latest from both camps. >> the candidates are racing through the battleground states. the organizations are working to turn out voters. the president will be appearing with bruce springsteen in ohio. jay-z in wisconsin rather. mitt romney is going to new hampshire. twice to virginia. you look at
CNBC
Nov 12, 2012 5:00pm EST
installment knocked them dead at the box office over the weekend and sold tickets. >> to help us find fast money special guest is in town. let's get to it. "fast money" starts right now. >>> live from the nasdaq market site i am melissa lee. here are the top three trades. the s&p 500 is close behind. should you be buying this dip? what some of the biggest hedgefund dealers are doing to make money. black friday is so yesterday. how retailers are trying to cash in and how you should be trading it right now. we have to get straight to america's most valuable company and that is apple shares falling yet again today. it is not just cnbc taking notice. michael wolf asks whether the age of apple is ending? is this the ultimate contrarien indicator. he says the tip is knowing that a dominant is tracking before the oedipus falls. >> in other words in someone's portfolio rather than their business. this is one of the most crowded strads that we have seen. it's not a valuation call. it's not a growth call. these things are still there. this is a case where the dominance in terms of the playing field
CNBC
Nov 20, 2012 6:00am EST
forces claiming to have targeted 100 gaza sites. the u.s. secretary of state hillary clinton is on her way to the middle east for talks with officials in a bid to try to end the deadly crisis. we've been watching oil prices, as well. and after sharp gains yesterday, you can see oil prices pulling back about 27 cents, still just about $89 for wti crude. we will have a live report from our nbc colleagues on the ground in the middle east coming up in the next half hour. >>> let's talk about some of the main market events of the morning. actually today fed chairman ben bernanke's speech at the economics sclub of new york is coming up at 12:15 eastern time. traders will be listening no any comments on the central bank's operation twist program and discussions about changing how the fed communicates about interest rates. operation twist expires next month. and there is some speculation the fed will continue making asset purchases by expanding the size of its $40 billion a month quantitate of it easing program. also on the economic agenda today, october housing starts released at 8:30 a.m. an
CNBC
Nov 15, 2012 7:00pm EST
story. that moves us close to stalemate and recession. that's right. still not much talk about spending cuts. so tonight we have budget cutting hawk jeff flake, the senator-elect from arizona. then there's this -- >> watch out. they're stealing the hostess twinkies. >> watch this. here's your reward. >> thanks! >> the question is, will the union succeed in stealing the twinkies forever? the ceo of hostess speaks out and speaks to us about this subject. >>> first up, breaking news out of the middle east. at this hour, israel giving the green light to call up 30,000 reserve troops and is moving forces toward the gaza strip. this is war. this after tel aviv came under rocket fire attack for the first time in 20 years today. and where is president obama on all of this? let's get right to our special guest this evening. we have former assistant secretary of state rich williamson and syndicated radio talk show host john boutzer. how much injury they inflict on hamas? i want to know if the total blowout is possible? >> yes, it is, larry. why that is critical is because egypt is involved profou
CNBC
Nov 15, 2012 6:00am EST
today. also, the ceo of mellon will be joining us to talk about the markets. as we've been talking about, the biggest issue for the markets right now seems to be the uncertainty surrounding the fiscal cliff. yesterday business leaders urged president obama and lawmakers to prevent a year end across board tax rise that will go into act unless congress acts. >> he understands it requires a combination of tax increases and title refor and discretionary spending cuts that dnl democrats and republicans have to work together. i'm is sure there will be a lot of forth and back between republicans and democrats, the congress and the president as they start to work their way to a deal. but i'd say there's strong recognition of the significant of getting a deal for the ben fft t benefit of the american public. >> this is all about trying to make american business more competitive, trying to have a fair balanced approach to tax refo reform. the president was clear he wants a balanced approach and we were clear we are behind him. >> top the president and top member of congress will be meeting. cnbc i
CNBC
Nov 30, 2012 1:00pm EST
? killer of killer capital is back with us. jeff, have you a very interesting take on this. most people would like to dive into it right now but that may not be what you should be doing. >> that's not the pure angle i'm taking. it is kind of a powerball fool's gold feel. people are rushing in because these companies are coming out with special dividends. watch that "x" date. the stock should drop the special amount of that dividend but i don't think the proper route. people dove in to hewlett-packard. will hurt people in the long run. is there what about the tax structure for the new year and these companies. increasing dividends by in some cases record amounts. >> this year we're seeing more an more people are putting allocation to a dividend stock. you have to be very careful. some people are getting in because of the dividend and not paying attention to volatility. a couple stocks i really like this year, moving into 2013, mostly due to the housing turnout. wells fargo, yielding 2.6%. much better than the 10-year. finally, duke energy, a nice energy company, putting up a nice yield b
CNBC
Nov 27, 2012 3:00pm EST
the happy moment last week after the press conference before thanksgiving where political leaders use what the challenge was ahead of them and they were going to address the fiscal cliff. now we're getting the pasturing. senator reid's comments today. the market drops immediately. this headline risk the market is going to suffer from every day until they get to that deal. >> steven, when you look at the retail sales figures over the week, black friday we had up 28% on monday for cyber monday. that would seem to suggest as michelle said that consumers are not too worried about much, including the fiscal cliff. yet, the market has this kind of a selloff when we get words out of washington today. what do you make of this? who's right on the fiscal cliff right now? >> well, i think that -- >> steven gilfoil. >> the consumer isn't paying that much attention to this. the regular american doesn't watch the financial news. he isn't reading the kinds of papers we read. and he's less concerned with this. >> should they be? >> they probably should be, but investors are more concerned with corporate n
CNBC
Nov 27, 2012 4:00pm EST
your money is? welcome to the "closing bell." bill griffeth rejoins us in a moment. here's how we're shaping up at end of the day. the dow jones industrial falling by 88 points. pretty much the lows of the session. 12,879, matching what we saw when harry reid began making comments about an hour and a half ago. the nasdaq lower by nearly nine points. the s&p lower by seven points. 1399, just below the 1400 level. why the late-day selloff? most on the street blaming these words out of washington about fiscal cliff. >> there's been little progress with the republicans, which is a disappointment to me. they've talked some happy talk about doing revenues, but we only have a couple weeks to get something done. so we have to get away from the happy talk and start talking about specific things. >> as we head into the fiscal cliff negotiations, my advice to the president would be seems like our friends on the other side are having some difficulty turning off the campaign. we need to sit down and work this matter out. >> behind closed doors. even with the fiscal cliff looming over the marke
CNBC
Nov 21, 2012 6:00am EST
markets closing at 1:00 p.m. eastern on friday. take a look at the u.s. equity futures. the dow is down by about 3 points. the s&p 500 is off by four. the nasdaq down by about 12. because of tomorrow's holiday, you do have the labor department coming out, releasing its weekly jobless claims numbers today. we get them a day early instead of a day late. also today we'll be getting weekly mortgage rates. and freddie mac will report on the weekly mortgage rate averages as well. >> let's talk about the top global market story this morning. it is greece's international lenders, which did not reach a deal, and now they won't be releasing that next bailout payment. nearly 12 hours of talks failed to reach a consensus. the imf and the central bank all going to gather again on monday to try again, but this is not necessarily good news at all. hostess brands will proceed with a plan to go out of business. the maker of twinkies says last-minute talks with the striking workers broke down yesterday, hearing with a bankruptcy judge set for 11:00 eastern time. then we have another string of bad news. >
CNBC
Nov 13, 2012 9:00am EST
us tomorrow. "squawk on the street" begins right now. >> markets waking up to the first full day of business after yesterday's holiday and the news flows back in full swing. good morning. welcome to "squawk on the street." i'm carl quintanilla along with melissa lee, jim cramer, david faber live at the new york stock exchange. futures in the red on cautious commentary from some retailers. management shake-up at microsoft and weak german business sentiment and this prolonged spat between the eu and imf over how to reduce greek debt. a beat and raise for the quarter for home depot. >> the man in charge of whippedos eat leaves microsoft just weeks after the product launches. >> jcpenney hits new lows. investors have to recognize that jcp is really two companies. we'll hear what he told becky, andrew and joe. >> lockup of all facebook shares tomorrow. >> first up, shares of home depot rising in free market pchlt home improvement retailer earned 75% a share in the quarter. that beat estimates. home depot raising full-year guidance citing signs of recovery in if the housing market. jim
CNBC
Nov 23, 2012 12:00pm EST
men from the navy and army. thanks. >> it was great having you here, brian. >>> that's it for us on "squawk on the street." at noontime, a very special edition of "closing bell" gets under way. have a great day. >>> it is a very special edition of "closing bell." welcome, everybody, to black friday. i'm bill griffeth. >> and i'm mandy drury, standing if for maria bartiromo. if peopler turn out in force to get big bargains. it's not just people in stores buying. investors seem to be buying. >> this is the first black friday rally on friday in four years. this is the last hour of trading right now. we're on a half-day schedule because of the how days, so if you have any trades to get in before the closing bell today, this is the hour to do that. it's been a really mode from the get-go. we're off the highs right now right now we're 102 at 12,939. we were knocking on 13,000's door earlier, pulling back from that right now. the nasdaq is up a person or 31 points, and the s&p at this hour is up 11 points, almost a percent at 1402. a shortened trading day. if anyone was shorting the mar
CNBC
Nov 27, 2012 12:00pm EST
to hp's board. john fortt is joining us. a provocative letter written by dr. lynch. >> it absolutely is, scott. a number of points he raises, he's asking for hp to answer for this $5 billion write-down. he's pointing out that under the accounting rules that he used in europe with autonomy, which are completely above board if they're used correctly, he believes that a number of the things that hp has said were fishy were absolutely appropriate. the way that revenue was recognized for hardware sales, for instance, the way revenue is recognized through sales. he goes on to ask can you really say hp that none of the write-down is because of the way hp managed autonomy after they bought it and what about all the members of the team that left after hp bought it? so a number of these questions might be things that hp is now in the position of responding to, whereas, the way they phrase things in that earnings call last week, they might have hoped to say hey, here's the write-down. here are the issues. we believe there's fraud. this is a number of years figuring it out. now let's move on. it do
CNBC
Nov 8, 2012 12:00pm EST
don't like the economic outlook in europe. china's going to help us in the very, very near term after the change is announced and after that it's back to same-old, same old and i'm staying to the sidelines for the most part. >> joe teranova? >> i'm waiting if d.c. policymakers will change my mind, what am i looking at? i want to look at apple. obviously an cell very compelling to me, down to 5.30, 5.40 and technologies should have gotten a lift. i also think the financials should have gotten much more of a uplift and i'm long goldman sachs and i wanted to add to goldman sachs and didn't do so. i don't like the price action and the performance. the market today after the significant sell-off that it had yesterday should be rebounding and it's not, and it's problematic and the 200-day moving average at 1980. >> josh brown, are you hiding in the corner like these guys? >> i don't hide. i agree with them, though. well, look, here's the point. so we've recognized this underlying deterioration and fundamentals in economic outlook for month, but the market didn't seem to care so we were happ
CNBC
Nov 1, 2012 9:00am EDT
restored to the island of manhattan. >> not only that people are using cars more and more to get around because of the public transport limit people with generators need gas line to run them. >> wait until you hear the one on the distraught. i'm going to cancel. it just seems like a bad idea in terms of you drink a little too much. i'm not a big gasoline and fiber. >> and monster drinks are about as far as i'm willing to go on that front, as far as box drinks. >> there's an awful lot of cane in new orleans. >> jim just broke, for a minute it was exclusive. phil jones us talking about mall mali staying at ford. >> we're listening to the conference call where mallalay and -- one thing to keep in mind that's very important is that he did not want to just lead ford because this is a company that has a long and really a bad track record when it comes to ceo succession. he looks at his tenure, the beginning fixing the company, the middle running it as it is now. and then the transition into the next ceo. and that's really the best way to look at this. he wants to make sure that that transitio
CNBC
Nov 6, 2012 6:00am EST
of the u.s. economy. it's tuesday, november 6th, election day, 2012. "squawk box" begins right now. >>> good morning. welcome to "squawk box." i'm becky quick along with joe kernen and andrew ross sorkin and the polls are opening in various parts of the east coast as we speak. some 30 million americans have already voted, including the folks in the tiny village of dixville notch. this follows tradition, they voted just after midnight and with the lowest turnout in almost 50 years, this time around it was a tie. five votes for president obama, five for governor romney. back in 2008, president obama defeated john mccain 16-5. let's take a look at the map. 270 electoral votes are needed to win. nbc news now shows president obama with 237 likely. romney 206. and 95 in the toss-up column, so it is going to be a very long evening, andrew. >> i think we'll be staying up pretty late and then we'll be back at it tomorrow morning. but cnbc's team of reporters has the country covered this morning. stationed in battleground states, campaign headquarters and here at election central. among our
CNBC
Nov 13, 2012 6:00am EST
% in the last year. we have cnbc tech reporter jon fortt will join us in a little whirl with more on the story at 7:00. and the new york stock exchange anticipate as normal session today after trading in more than 200 stocks were suspended yesterday due to a technical problem with a server. stocks in question continued trading in other markets. and a little goldman sachs news. they will reportedly tap the smallest nuch executives in more than a decade to join it highly coveted partnership ranks. goldman exacted to announce the promotion of only about 70 employees to partner. roughly one third less than knows named back in 2010. >> did your buddy make it? i have to explain as -- greg smith didn't make it? >> no, he did not. >> are you sure he wasn't on the list? >> he was not on the list. i think that's one of the reasons he ended up writing that book. i believe he made have made more money writing that book than some partners made this year. >> you checked, he is definitely on the -- >> pretty confident he's not. best headline of the day goes to the daily news. in the line of booty. i didn't g
CNBC
Nov 19, 2012 9:00am EST
for government to set the context and not just focus on fiscal issue and talent and entrepreneurship. >> join us tomorrow. "squawk on the street" begins right now. ♪ let's do it ♪ >> a holiday shortened week but no lack of news heading into black friday. welcome to "squawk on the street." i'm carl quintanilla with melissa lee, jim faber, jim cramer at the new york stock exchange. a rally on our hands. whether that's about continued reaction to the meeting between the white house and congressional leaders on friday, maybe some hopes about finance ministers in april or hopes about what bernanke may say say tomorrow in new york. europe also on a tear. most of the major averages up 1% to 2% here as we await a big week in europe as well. we start with the markets. new optimism about the cliff. president obama in myanmar saying he's confident the fiscal situation will be dealt with hours after he hit the phones calling top ceos. >> lowe's shares on better than expected earnings. the results renewing hopes this morning about the housing recovery. >> international pressure mounts for israel and gaza
CNBC
Nov 9, 2012 3:00pm EST
's "closing bell" exchange, dan mcmahon from raymond james is going to join us. also, john from gfi group. our senior economics reporter, steve liesman, and our own rick santelli. john, it is clear that the fiscal cliff has wall street's full attention right now. do you expect a -- something to happen by december 31 or not? >> we expect something is going to happen. what that's going to be, we don't have the clarity we're expecting just yet. i think it's simple math. everybody knows what has to be done. obviously, we've had many, many studies over the course of the last few years that tell us what has to be done. so it is math. it's just about them getting in a room and hammering out the details. so we obviously need some revenue and some cuts across the board. i think it's how those are going play out in terms of what portion and how much is going to be what the market's really keying on. i think $4 trillion is basically the number that's kind of out there. i think if it comes in higher than that, it's going to be positive. if it doesn't, it's going to be a negative. >> so steve liesman, what
CNBC
Nov 15, 2012 9:00am EST
territory. >> the head of mcdonald's u.s. business is out and jeff stratton will assume that business starting january 1. capped off last month with the first decline in monthly sales in about nine years. we'll begin with a teale of two retailers. walmart, revenues coming in short of forecast. -- as for target, the company posted third quarter earnings well above estimates, says it's poised for a strong fourth quarter, but walmart has some issues here, jim. they're talking countries including but not limited to brazil, china and some others too. >> yeah, i was thinking it bick, not brick. russia has been left out of the equation, foreign corrupt investigation, not a great number here at all. the stock had become a very big institutional favorite. if you recall during the mexican investigation, when "new york times" piece it, the stock was trading between 57 and 58. they were then overridden by a couple of really good, solid quarters. this was not the quarter that anyone was looking for. >> except for those who sold the stock over the last couple of weeks. i mean that stock has started
CNBC
Nov 19, 2012 1:00pm EST
, and is it sort of the transcendent deal that some people would like or is it a stopgap to get us into the new congress? >> exactly. it will be a stop gap measure because of two simple reasons. a quarter of congress is turning over. they won't make a big deal in front of that. two, house leader boehner has to get re-elected by his party in january. he's not going to put a big deal in front of that. flip side is, no deal. i don't think the president will let that happen because he doesn't want to start his second term as president the way he started the first which was in a recession. but finally, what people fail to forget -- congress needs to go home for holidays. if they go home with no deal they will be criticized by their constituents. >> there are very few working days left when congress comes back from this thanksgiving break. >> remember what happened. t.a.r.p.? they didn't approve it. went home for the holidays, got criticized, came back and approved it. >> you see some stort of stopgap that averts the immediate tax hikes an spending cuts as of january 1, and that there is then some co
CNBC
Nov 21, 2012 12:00pm EST
're following today. the ceo of israel based soda stream speaks to us live as a bus bombing rattles tel aviv. but first, let's get to the story all of wall street is watching and that's the trading scandal that is embroiling sac capital. kate kelly has the latest. >> thanks so much, scott. there's a lot of talk of course and one big question given this is just the latest development in an ongoing federal investigation of potential insider trading dealing with former employees of the firm, but yesterday's news which involved the arrest of a former sac employee appears to have drawn stevie cohen into the fray as well. although he is not named by name in the federal or s.e.c. complaint, it clearly seems to be he who discussed one of the trades involved with this former employee and in fact authorized the trade to take place although we don't know what cohen knew about whether the information was ill gotten or not. so the question now becomes what is the investor reaction? are people thinking of redeeming the money from sac or not? this is a firm that has really outperformed, especially in recen
CNBC
Nov 1, 2012 3:00pm EDT
comes right through. >> also, tomorrow night, all of the nbc universal networks, including us, will air a benefit concert featuring bruce springsteen, john bon jovi, and others. you got to watch it. stay tuned. >>> hi, everybody. we enter the final stretch. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange. the bill,s market kicking off a new month with a solid rally. investors optimistic ahead of tomorrow's key october job report. >> tomorrow's employment numbers could have a major effect not only on wall street but on the presidential election as well. we'll get market experts to weigh in on that a little later. the other big story, of course, the continued fallout from hurricane sandy. if you have a car in new york, new jersey, other areas affected all along the coast, chances are you're having a hard time filling your gas tank. many stations are still closed. others are seeing huge lines. the question is how long is this going to last? we're going to get into that coming up. >> but first, let's look at where we stand as we approach this fina
CNBC
Nov 6, 2012 3:00pm EST
creation? >> well, from a corporate standpoint, yes, maria, because most u.s. corporations are sitting on cash. as you saw profit margins hitting all-time highs. they're clearly not hiring a lot. at the end of the day, this whole economy and the stock market is about jobs. the market could be up even more if we start to see some job creation, but we can't be bidding stocks higher unless we start to see some in flows from our private client friends, who by the way, don't buy bond funds. we still think there's a lot of work to do on the investment side in terms of building further fundamental clarity with respect to the option of buying equities versus selling them. >> so you're not jumping on this bandwagon today, this rally we're seeing here? >> no, for one thing, we are just relieved that all of this election stuff is over. that's number one. number two, let's get back to the business of america and stocks going up in america as an asset looking very well on a longer term perspective. however, on a near-term basis, the market in our belief is well ahead of historical norms in terms of
CNBC
Nov 29, 2012 6:00am EST
that hasn't happened since october 2011. u.s. equity futures at this hour actually higher. up by about 65 for the dow, s&p more than 7, and as joe mentioned, the fiscal cliff is still the focus. today treasury secretary tim geithner will be meeting with congressional leaders. first harry reid at about 10:00 and then followed by a session with john boehner, eric cantor, paul ryan and chairman of the house's tax writing ways and means committee dave camp. also lunch with republican senate minority leader mitch mcconnell and nancy pelosi. yesterday a number of high profile corporate leaders met with president obama at the white house, including lloyd blankfein. >> both sides have acknowledge there had is revenue concessions and entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in a business context, i would say a deal would be in reach. >> among our guests this morning, we have ron johnson. at the white house today, president obama will host mitt romney for a private lunch. it's their firs
CNBC
Nov 27, 2012 9:00am EST
for being here today. it's been a pleasure. ed, don, we'll have you both back soon. that does it for us today. join us tomorrow. right now it's time for "squawk on the street." >>> good tuesday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber live at the new york stock exchange. melissa is off. the latest s&p case-shiller report has been released. results at the bottom of your screen. we'll go inside those numbers in about 15 minutes from now. >>> futures here marking sometime ahead of data later this morning. we have a mild rally in europe after the greek bailout deal does get done after the third round of talks right now it looks like london and paris are in the green as is frankfurt. our road map starts in omaha where conagra is buying ralcorp. a deal worth 6.8 billion including debt makes it the largest private label food manufacturer. has it lit a fire under m & a? >> don't come in with a negative attitude when i'm positive. >> we want to talk about the wave of special dividends. it continues. this time las vegas sands and dillard's, nea
CNBC
Nov 9, 2012 6:00am EST
this morning's top stories. >>> good morning. we have a big day ahead of us. and the fiscal cliff conversation begins today. president obama will be making a statement on the economy. he'll speak from the east room of the white house at 1:05 eastern time. you can of course catch all of it right here on cnbc. john boehner is also scheduled to hold a you news conference today, as well. st. louis fed president james bullard is saying the u.s. economy is strengthening. but he's cautioning that leaders must tackle the looming fiscal cliff. a conversation we can't get away from. speaking in missouri yesterday, bullard also says he doubts the central bank will extend a bond maturity extension program that expires at the end of the year. bullard is not currently a voting member, but he will ebb in 2013. and china's national congress continues with new leaders for the communist party set to be named later this morning. today a rising star said the party is moving towards requiring officials to their their assets. so an interesting piece in the chinese business press this morning. >> we have been talkin
CNBC
Nov 20, 2012 1:00pm EST
from us and we will be using that at some point, at the appropriate time to begin to tight monetary policy. now, you're talking about the other direction, why don't we just cut it to zero, pay no interest on excess reserves and there thereby, get a little more accommodation? it is something we have considered repeatedly, i don't rule it out as an action in the future. the cost benefit analysis we have done in looking at it, starting where we are at 25 basis points is the following. if we cut -- if we were to cut that it interest rate from 25 basis points to zero, our estimate is that it would affect very short-term interest rates, like overnight rates by something on the order of eight or nine basis points, extremely small amount. and that, in turn, would have even a smaller effect on the interest rate wes care about like the rates on auto loans or houses, et cetera. so the stimulative effect of that action, while going in the right direction, we assess as being very, very small. on the other side you can the concern we have, or at least some have had, is that if there is no return
CNBC
Nov 19, 2012 6:00am EST
've written -- you've tried, you've tried hard, your other book was hcapitalism will save us if we let it. why flee markets are moral. and big government isn't. you sat down and said i guess the battle will continue because this last election no one read those books, i guess. they must have, but not enough people obviously. you didn't give them away. maybe that's why. but the one thing that -- >> i offered it to the romney camp, but they didn't take it. >> we tried to get romney on here a bunch of times. don't get me started on people that ran that campaign for him. but you were looking for one silver lining when you sat down and all you could come up with was that there are some governors that might not implement the exchanges for obamacare. is that the one thing you're positive about this morning in. >> short term we'll have a lot of turbulence and no small part because the federal reserve is still out to trash the dollar. europe, all the european countries are raising taxes. japan's raising taxes. we're going to raise taxes. just a matter of how much. so we'll have rough sledding next year.
CNBC
Nov 19, 2012 3:00pm EST
-bi-ya moment after the meeting. they said nothing across the pond will hurt us, let's buy here. >> no sense of urgency right now. does the market feed off that? is that what's going on here? >> i continue to look at the treasury market. you can look at a chart overlaid with the stock market. we were following themmer earlier, especially with the opening you describe, then it started to fall off. treasury market seems unimpress unimpressed. i'm in agreement with art, which is a good thing because art is mostly right, that is, nobody's driving the car from a political standpoint. that's the only time i can say a car without a driver is a safer car to be in. the market is reflecting that. if you want to look at something to give you a good clue, watch the euro relationship with our stock market and the global stock markets. that relationship is directly correlated and something to pay attention to. >> as the euro goes, so does our markets. stand by, we have break news on a story we've been watching on hostess. kayla has that. >> the latest is that the u.s. bankruptcy judge said that the partie
CNBC
Nov 21, 2012 4:00pm EST
-on cnbc interview. good to have you on the program. thanks for joining us. >> sure, maria. >> well, tell us, what happened first yesterday at final mediation talks? was a deal ever close? >> you know, the judge has a gag order. he'll have my head if i talk about what went on during the mediation, but i think that he wanted to make sure that he did everything in his power to try to find a deal, if there was one to be found. you know, i appreciate the fact that he went through that effort. i was hopeful, but i think realistically that was going to be a tough thing to pull off. >> how much of an implication it was the fact the union leader did not show up to those mediation talks? >> well, the leader of the bakers union sent his second in command to the meeting. i think that part of what we needed to sort of focus on is the hole that's been created by the strike and the financial damage from that strike and our inability to produce at some of our critical plants. really just created a brand new hole that was too large to fill. bankrupt companies don't have a lot of margin for error to begin
CNBC
Nov 2, 2012 6:00am EDT
us for the report. and then we'll get reaction from the romney campaign with ron hubbard. that's at 8:40 eastern time. obviously a lot on our plates today. andrew, i'll send it over to you. >> the coast guard opening the port of new york new jersey on a restricted basis today allowing the backlog of barges containing gasoline and fuel into the area for the first time. how soon, however, will we see relief in the area impacted by sandy? that's the big question this morning. joe knows this very well, on my way in today, i had to take a taxicab for $125 because jeeves was this line to get gas, he was out of gas. >> i tried to take a car, my guy who i call -- he is not, but he nights as well be a former -- he has never failed. on on tuesday he came. and there have been snowstorms in the past where we've gone off the road, around, jack moved tractor trailers to get here's couldn't get gas. and so then i had to use -- i had a certain amount left in reserve. my gas tank is locked because people are siphoning now. >> it happened to one of our producers. >> there are people with guns. first 12
CNBC
Nov 2, 2012 9:00am EDT
to the numbers from dean mackey joining us from barclay's. good morning to you. >> good morning. >> any hair on the numbers, so to speak, as far as you can tell? >> i think this was a followed report when you look at the broad categories of job growth, when you look at the participation rate rise. the only underlying softness was in ourly earnings, but that really doesn't change the sfoer of where we've been. boug bottom line, the labor market has picked up some of the momentum after slowing down this summer. still a moderate recovery, though. >> yeah. the raining on expectationses w was 30,000 on one end. that beats even the top of the range. how could people have uniformly underestimated the number? >> the problem here is we're getting these upward revisions and so what happened last month the number was 114,000. that's been revised up significantly. if everyone would have known what that number actually was, we probably would have had higher numbers going into today's number. so it's just part of the game here, these upward revisions. >> look iing forward, dean, wit the hurricane and the
CNBC
Nov 6, 2012 4:00pm EST
for joining us, everybody. why do you think that? >> well, as many of your guests have told you today, it's removing that uncertainty. i think this market doesn't care who wins. they'll finally put it to rest. they'll finally know who they're dealing with. it's better the devil you know than the devil you don't. >> gary, you're really focused on that fiscal cliff. are they going to be able to work this out? tell us how you envision this taking place after the election. >> we think this is the critical problem the country faces after the election. we see several scenarios. one is just kick the can down the road. we don't think that's the most likely scenario. the other is going over the fiscal cliff. we don't think that's the most likely scenario. we think there will be some compromise which will create some fiscal drag for the economy. >> if they've not been able to come to a compromise on this yet -- and by the way, this all happened one year ago. everybody who was in place today, that includes the president and congress, this happened on their watch. so you would think that they would s
CNBC
Nov 2, 2012 1:00pm EDT
? how do you know it's all going to the right place? sue's out today. michelle caruso-cabrera is with us. >>> we're going to run you through with some video. help on the way from the west coast, from california. dozens of power trucks loaded on to giant air force cargo planes to help with power restoration. those things amazingly flying across the country all the way from california. the situation remains desperate in many neighborhoods in the tri-state area. these are pictures from this morning on staten island. there is virtually no power on the island. destruction is widespread. the secretary of homeland security janet napolitano will visit today. staten island is where the new york marathon will start on sunday. more subway service returning to manhattan, but not below 42nd street where power is still out in wide parts of the city south of that parallel. city officials say they may have to evacuate the marine life from the massive new york city aquarium based in brooklyn. the death toll from the storm nearing the 100 mark. despite the damage in atlantic city, that town's famous casin
CNBC
Nov 7, 2012 7:00pm EST
to the market? courtney reagan at the real-time exchange breaking it down for us. good evening to you, courtney. >> good evening, larry. last night might have been overwhelmingly blue but today it was all red. the day after the presidential election saw the dow shift 312 points, marking the biggest point loss so far this year for the index. but it could have been worse. at session lows the dow was actually off by 369 points. the sell-off was broadbased and multifaceted. some point to wall street's disappointment with president obama's re-election. but ecb head mario draggi's comments about weakness in europe affecting germany and apple's move into correction territory certainly didn't help things either. now, financials selling off as the market anticipates. another obama term could mean financial regulation is here to stay. coal stocks the hardest hit in the wake of romney's loss. we know he was a supporter. and while not all health care names performed well, hospital stocks did soar today, with obama care set to remain in place money will continue to flow to the hospitals. as you can see, you
CNBC
Nov 30, 2012 6:00am EST
over. he used geithner's political capital which i think was a mistake for geithner. >> he's leaving. >> but it's like using -- >> going back to goldman. >> where he started. >> where he cut his teeth. >> like using a pitcher because you don't care about his arm at the end of the season. so you threw him out there and you send him over with -- and you also let the republicans characterize the plan. which from a pr standpoint i don't think was that smart. so i think they blew that one. but ultimately it strikes knee obama did not suggest, you know whark what, i want to get it done quickly. >> people supposedly knew or that act like they know what the pinl deal will look like is like they gotting withed down at 800 last year. so the president is starting at 1.6. so they'll end up between a trillion and 1.2. anything close a trillion would be seen as boehner prevailing a little bit because he only had to go up 200 billion and anything closer to 1.2 or -- would be a win -- >> i think the big question is what happens to entitlements, too. what do you put on the table for that. >> the diff
CNBC
Nov 27, 2012 6:00am EST
more for us from london in a few minutes. >>> back here in the united states, the house returns from its thanksgiving break today. the senate was back yesterday. meantime today president obama will be meeting with small business leaders. at issue of course is the series of tax increases and spending cuts that kick in at the end of the year if congress doesn't act. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> cnbc's raise above campaign continues. we're asking who has the courage to rise above partisan politics and find a solution. among our guests, three men who understand washington, wall street and corporate america very well. we have the chairman of president george w. bush's council of economic adviser, ed lazear, roger altman, and real estate tycoon don peebles. but let's cover this morning's top headlines. >>> we do have a lot in the corporate headlines this morning including equity residential and avalon bay communities agreeing to buy archstone from lehman brothers holdings. the price tag, about $6.5 billion in
CNBC
Nov 16, 2012 12:00pm EST
see you monday. that does it for us. let's get back to headquarters and "the fast money halftime." >>> all right. good afternoon. welcome today. we are following the developing story down in washington. talks at the white house as you heard between the president and congressional leaders just breaking up a short time ago. reaction immediate in the stock market as stocks rallied. came well off their lows and in positive territory now across the board. let's show you where we stand on this friday on wall street. as we hit the noon hour here, the s&p 500's up one third of a percent. that's the nasdaq good for a gain of 6 points. dow industrials down about 60 points. not that long ago with about a 100-point swing up 47 points now, better than one third of 1% and number of traders with me today. joe, john, simon, steve down on the floor of the new york stock exchange. doc, i'll go to you first. if there was a feeling of tone deafness in washington related to what the markets wanted, maybe they got what they wanted at least a little bit today seeing the reaction in stocks. >> nothing f
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